Nov 12, 2012 10:00am PST
worked for ronald reagan. what you want, you should tax. what you don't want as a society, what you don't want is a society, rather, you should tax and what you do want you should subsidize. my god, if there's anything we should be subsidizing, it's medical devices and research and medicine and science. and here is the administration coming with a 2.3% tax on companies, many of which are not profitable. shannon: yeah. and that's just one of many, many taxes tucked into the bill, but, of course, more than 3,000 pages and most members of congress admitted they didn't read it. it's good to see you, thank you so much for weighing in. >>> the resignation of the nation's spy chief has the pentagon releasing its version of events of the terror attacks in libya that left four americans dead. we're going to show you that timeline. and what looks like a joke is growing bigger. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from cam
Nov 12, 2012 10:00am PST
cracking around ronald reagan's feet, the first time he raised taxes. i remember when he said that. >> yes, exactly. well, i think the speaker, i think, is setting the tone, as you saw on the front page, above the fold in "the washington post," you know. call his caucus to task, saying he's got to get the nation's business done. and i think what he said implicitly and probably directly behind the door is, trust me on this. you know, i get it. i understand what we need to do. we're not going to sacrifice our principles and values, but we've got to get the nation's business done. and then when we have a bill kristol coming out and saying, you know, they're all rich guys who live out in hollywood. we can raise their taxes. what an 180-degree turn. >> they're not the small business men. >> you'll probably note this, what an election will do. winning and losing has a consequence. and i think for a lot of republicans right now, given where we were two years ago versus where we are right now, you realize, hey, we're going to have to deal. we're going to have to deal. >> what about the president?
Nov 12, 2012 12:00pm PST
won. you know, since ronald reagan we no longer have 70% tax rates on the highest income earners. nobody is arguing for that. we're arguing to go back to 39.6%. on health care reform, the president's health care reform was basically a conservative idea put into the national spotlight by democrats and passed by democrats. education reform. even cap and trade is really a republican approach to solving environmental problems. we no longer have anyone saying we don't need to balance the budget. in a lot of ways these conservative ideas have won the day. so republicans are in a place where they moved further and further to the right as the democratic party has amoved further and further to the right. now they're out in the mainstream, and in order to have a meaningful, stark contrast with democrats, they've gone to such a far right place that the american people just aren't comfortable with what they propose. >> i'm encouraged by some of the language i heard coming from some folks on the right. there's still people in conservative circles who are saying we can't compromise our values.
Nov 12, 2012 8:00pm EST
. bill bradley and i started with the first bill on this, and then ronald reagan picked it up and really carried at, and we got it done in a bipartisan way. when we did our original bill, we took out a mortgage deduction, we took out the charitable deduction, we took out everything, and we got right down to christie, it was 10%, 50%, 25% was the top rate, and we thought it was an elegant bill, but it could not pass muster political. we had all the real estate people and all the mortgage bankers and everybody came to town and said you get rid of the mortgage interest deduction is the end of the world, so we lost that. and all the university presidents and all the priests and all the other charities came and said you cannot get rid of that. the only thing we call on to was state and local income tax, and how we hang -- hung on to that i would never know. in the end, we were able to lower individual rates by taking more money from the corporate side, which i do not think you can do now. everybody is saying that corporate rate is too high in america, said to be competitive we have to get at